IVL: Growth from Acquisition Amid Spread Contraction
We maintain our ‘BUY’ rating but cut our earnings forecast and target price by 25% to Bt30, based on 13.5xPE’20 which is world materials sector...
322 Views
IVL: Next Era to Driven by Cost Transformation and Organic Growth
Analyst meeting held yesterday came out with a positive tone for overall IVL business. During next era, 2018-2023, its growth are expected to...
453 Views
IVL: Disappointed Spreads Dragged Its Performance Down
IVL reported 3Q19 net profit of Bt792m (-92%YoY,-65%QoQ), the worst in almost four years. Thus, we cut our earnings forecast in 2019-21E by 29-50%...
473 Views
IVL: Insignificant Impact from Plastic Banning
We believe an issue on banning of single-use plastics will push only a short-term negative sentiment on IVL, whereas the worst case impact would be...
657 Views
IVL: World-Class Company with Potential for More Growth
We initiate coverage of IVL with a BUY rating and a 1H20E target price of Bt47.50, derived from 13.5xPE’1H20, which is the world Materials Sector...
563 Views